[LINK] Bitcoin .. ATO's draft guidance
Tom Worthington
tom.worthington at tomw.net.au
Mon Aug 25 01:27:57 AEST 2014
On 21/08/14 23:57, Frank O'Connor wrote:
> ... Bitcoin and its competitors ... I look at them basically as a
> currency stockmarket or bookmaker who deals in money movements ...
An Australian dollar is not much different to a Bitcoin: it is only
worth whatever someone will exchange it for.
> What will it do that conventional currency and financial products
> will not do ...
Apparently there is a Bitcoin ATM somewhere in the Canberra Center. I
went looking for it, but could not find it:
http://newsbtc.com/2014/08/22/bitcoin-atm-hits-australias-capital-city-canberra/
> And no government in their right mind is going to accord them the
> status of a legal 'currency'. That power they will always prefer to
> keep to themselves. ...
Governments are not the only ones issuing currency. Private banks issue
their own banknotes in Scotland and Northern Ireland:
http://en.wikipedia.org/wiki/Banknotes_of_the_pound_sterling#Scotland_and_Northern_Ireland
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Tom Worthington FACS CP, TomW Communications Pty Ltd. t: 0419496150
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